Mercer Advisors
Sharing Knowledge

Question

How much is Social Security reduced if I claim at age 62?

Answer

Claiming at age 62 could reduce your benefit by up to 30%, and the reduction lasts for life. For example, if your full benefit at age 67 is $2,000 per month, claiming at age 62 would lower it to about $1,400. This is a hypothetical example for illustrative purposes only.

Related FAQs

Is it better to claim Social Security at age 67 or 70?

Can I work and collect Social Security at the same time?

What happens to Social Security if the trust fund runs out?
Financial Planning Retirement Retirement Planning Social Security Living in Retirement Tax Basics Early Retirement Cash Flow Management FAQs
Last Updated Nov. 4, 2026
Previous Next

Further Learning

Listen
Tax Planning Podcast

Episode 530 – Year-End Financial Planning Checklist

John Walker and Jason O’Meara discuss key year-end planning steps: maxing retirement contributions, taking RMDs, managing inherited IRAs, and Roth conversions before Dec. 31.

Multi-generational family having dinner together
Financial Planning Article

What To Do With the Money You’re Not Going To Spend

When your retirement projections show you have more than enough, the question shifts from saving to spending. Explore strategies for surplus wealth.

Couple moving
Tax Planning Article

Planning a California Residency Change Before Your Liquidity Event

Changing California residency before a liquidity event requires careful planning. Learn the two-year timeline, safe harbor rules, and strategies to help reduce your tax exposure.

Woman at desk in front of computer
Women & Wealth Article

Financial Planning for Women Business Owners: Beyond the Business

Women business owners may face distinct financial planning challenges. Learn how to coordinate investments, tax, estate, and insurance strategies that go beyond the business.

Back to Sharing Knowledge

About Mercer Advisors

We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.

Explore Our Solutions

Financial Planning
Estate Planning
Tax Planning & Preparation
Insurance Solutions
Investment Management
Trustee Services

Want to learn more about Mercer Advisors?

Let’s Talk